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SAUDI ARABIA: SEC CAPITAL EXPENDITURE.

Summary: Saudi Electricity Company (SEC) said that it signed a US$ 1.75 billion international syndicated loan to help finance capital expenditure plans.

Saudi Electricity Company (SEC) said that it signed a US$ 1.75 billion international syndicated loan to help finance capital expenditure plans. The five-year bullet loan is co-financed by eight major international banks including Bank of Tokyo- Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, Mizuho Bank, HSBC, Standard Chartered, Natixis, Citibank and First Abu Dhabi Bank. Under the KingdomEe's Vision 2030, which is aimed at diversifying the economy away from oil, the Statecontrolled utility would be split into separate companies that would be offered either to local citizens through offers on the stock market or to local or international companies through acquisitions.

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Publication:EMBIN (Emerging Markets Business Information News)
Date:Sep 17, 2017
Words:139
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